11
January
by Jeffrey C Kadlowec, Registered Architect The success of a construction project is measured by completing the project objectives to a high standard, on time and within budget. Construction project management incorporates planning, scheduling, estimating, worker safety, financial risk, professional practice, contract administration and cost control (Pawar 2002). While finish quality and building performance are subjective, schedule requirements and projected costs remain finite. Cost management monitors, analyzes and evaluates that information to forecast, control and report the financial status of a project or company. Project management begins with resource planning and cost estimation. The costs of labor, materials and equipment.
